Fifth Third Bancorp CEO Greg Carmichael's 2020 pay rises 9% to $9.8M
Fifth Third Bancorp reports 2020 executive compensation
By ExecPay News
Published: March 2, 2021
Fifth Third Bancorp reported fiscal year 2020 executive compensation information on March 2, 2021.
In 2020, seven executives at Fifth Third Bancorp received on average a compensation package of $3.4M, a 16% decrease compared to previous year.
Average pay of disclosed executives at Fifth Third Bancorp
Greg D. Carmichael, Chief Executive Officer, received $9.8M in total, which increased by 9% compared to 2019. 48% of Carmichael's compensation, or $4.7M, was in stock awards. Carmichael also received $2.9M in non-equity incentive plan, $825K in option awards, $1.1M in salary, as well as $306K in other compensation.
For fiscal year 2020, the median employee pay was $69,436 at Fifth Third Bancorp. Therefore, the ratio of Greg D. Carmichael's pay to the median employee pay was 141 to one.
Lars C. Anderson, Chairman, received a compensation package of $3.3M, which increased by 1% compared to previous year. 43% of the compensation package, or $1.4M, was in stock awards.
Timothy N. Spence, President, Fifth Third Bancorp, earned $2.7M in 2020, a 4% increase compared to previous year.
Frank R. Forrest, Former Executive Vice President and Chief Risk Officer, received $2.5M in 2020, which decreases by 1% compared to 2019.
Tayfun Tuzun, Chief Financial Officer, earned $1.9M in 2020, a 30% decrease compared to previous year.
Robert P. Shaffer, Executive Vice President and Chief Risk Officer, received $1.9M in 2020.
James C. Leonard, Chief Financial Officer, earned $1.6M in 2020.
Related executives
Greg Carmichael
Fifth Third Bancorp
Chief Executive Officer
James Leonard
Fifth Third Bancorp
Chief Financial Officer
Tayfun Tuzun
Fifth Third Bancorp
Chief Financial Officer
Lars Anderson
Fifth Third Bancorp
Chairman
Timothy Spence
Fifth Third Bancorp
President, Fifth Third Bancorp
Robert Shaffer
Fifth Third Bancorp
Executive Vice President and Chief Risk Officer
Frank Forrest
Fifth Third Bancorp
Former Executive Vice President and Chief Risk Officer
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Source: SEC filing on March 2, 2021.